Balefire LLC Invests $1.54 Million in Landstar System, Inc. $LSTR

Key Points

• Balefire LLC disclosed a new first-quarter stake in Landstar System, buying 9,627 shares valued at about $1.54 million.
• Institutional ownership remains extremely high, with hedge funds and other institutions holding 97.95% of Landstar’s shares. Several other funds also recently increased or initiated positions.
• Analyst sentiment is mixed but generally cautious: Landstar has a consensus Hold rating and an average price target of $192.42, even as some firms raised targets or upgraded the stock.

Balefire LLC acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,627 shares of the transportation company's stock, valued at approximately $1,543,000.

A number of other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in Landstar System in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC grew its stake in Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company's stock worth $27,000 after buying an additional 144 shares during the period. Quarry LP acquired a new stake in shares of Landstar System in the third quarter worth $25,000. Geneos Wealth Management Inc. increased its position in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock worth $37,000 after acquiring an additional 142 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Landstar System by 81.0% in the 4th quarter. Private Trust Co. NA now owns 277 shares of the transportation company's stock valued at $40,000 after acquiring an additional 124 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on LSTR shares. Robert W. Baird lifted their target price on shares of Landstar System from $195.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, June 17th. Weiss Ratings upgraded Landstar System from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 16th. Susquehanna raised their price objective on Landstar System from $195.00 to $230.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Stephens upgraded Landstar System to a "strong-buy" rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $145.00 target price on shares of Landstar System in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Landstar System presently has a consensus rating of "Hold" and an average price target of $192.42.

Landstar System Stock Performance

NASDAQ:LSTR opened at $211.56 on Monday. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 58.44 and a beta of 0.89. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The business's 50-day simple moving average is $204.78 and its 200 day simple moving average is $175.06.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm earned $0.95 EPS. Landstar System's quarterly revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Landstar System, Inc. will post 5.73 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Landstar System's dividend payout ratio (DPR) is presently 44.20%.

Landstar System announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diana M. Murphy sold 11,246 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the sale, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by company insiders.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar's proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.